1862-S LIBERTY HEAD $10 AU53

CHOICE LUSTROUS SURFACES. JUST 60 TO 80 COINS BELIEVED TO EXIST TODAY IN ALL GRADES. The San Francisco Mint struck 12,500 Eagles in 1862, or slightly more than that struck by the Philadelphia Mint the same year. Nevertheless, the 1862-S is a much rarer coin than the 1862 in all grades. The fact that gold coins remained in circulation on the West Coast even after they were hoarded in the Eastern States at the onset of the Civil War undoubtedly explains this phenomenon. Rare in all grades and unknown in Mint State, the 1862-S represents a fleeting buying opportunity whenever a problem-free example appears in the market.